News / Page 156

US dollar pushes euro and gold near multi-month lows

Posted on November 17, 2015 at 3:20 pm GMT

The US dollar has been moving higher this week as it pushed both the euro and gold near multi-month lows. Specifically the euro dipped to its lowest since April below 1.0650 and very near its 12 ½ year low of 1.0461 registered back in March this year. With respect to gold, the precious metal fell to its lowest in nearly 4 months at 1077, after falling to 1074 the previous week; eyeing the almost 6-year low of 1071 dollars an [..]

US inflation edges up in October; dollar unmoved

Posted on November 17, 2015 at 3:18 pm GMT

Annual inflation showed signs of picking up in the United States as the 12-month CPI rate increased to 0.2% in October from 0.0% in September. The figure was slightly stronger than the 0.1% rate expected by economists. On a month-on-month basis, prices were up 0.2% in October – the first rise in three months, which was in line with estimates. Core CPI, which excludes food and energy items, was unchanged at 1.9% on a yearly basis, while the month-on-month rate [..]

UK inflation stuck at -0.1% but stronger core rate sends pound higher

Posted on November 17, 2015 at 11:26 am GMT

Inflation in the United Kingdom remained in negative territory in October and was largely within estimates, figures out today showed. Annual CPI was unchanged from the previous month at -0.1% in October and in-line with estimates. But core CPI, which excludes energy, food, alcohol and tobacco prices, rose to the highest since July to 1.1% year-on-year, up from 1.0% in September and against forecasts that it would stay unchanged. The headline rate of inflation in the UK has been stuck [..]

Asian Session – Dollar climbs to 7-month high; euro back below 1.07 dollars

Posted on November 17, 2015 at 8:21 am GMT

The US dollar climbed to 7-month highs on Tuesday as it recovered from yesterday’s brief slide post the Paris attacks. Investors have turned their attention back to the growing expectations that the US Federal Reserve will raise interest rates in December as concerns about any immediate impact from last Friday’s terrorist attacks in France have receded. The greenback advanced to 123.42 yen in today’s Asian trading before easing slightly to 123.31 yen in late session. Monday’s stronger-than-expected final Eurozone inflation [..]

Technical Analysis – USDJPY maintains bullish bias with focus on 123.60

Posted on November 17, 2015 at 7:38 am GMT

USDJPY retains its upside bias after extending gains on Tuesday following Monday’s surge back above 123.00. A move higher from current levels would bring the November 9 high of 123.60 into focus. Momentum is still bullish above 50 and not yet into overbought territory so this gives scope for a further rise. Technical studies are supporting a bullish bias as the tenkan-sen and kijun-sen lines are positively aligned while prices are above the 200-day moving average and above the daily [..]

European session – Volatile session as US dollar regains strength ahead of key inflation data

Posted on November 16, 2015 at 3:06 pm GMT

The dollar eventually managed to gain ground after its early rally at the Asian open was initially reversed. As the session progressed, both risk appetite and the dollar managed to make gains. Stock markets around the world managed to grind their way higher through the day, limiting the gains by safe havens. The greenback drove the euro back towards the 1.07 mark at 1.0710, after the single currency had traded as high as 1.0778. Similarly, dollar yen had fallen to [..]

Japan slips back into recession; adds pressure on BoJ for more stimulus

Posted on November 16, 2015 at 11:39 am GMT

Japan’s economy entered into technical recession in the third quarter of the year as GDP shrank for the second consecutive quarter. GDP growth for the July-September quarter came in at -0.2% compared to the previous quarter, slightly worse than the consensus estimates of -0.1%. However, with second quarter growth revised up from -0.3% to -0.2% q/q and a projected rebound in the fourth quarter, there is little expectation that Japan’s economy is heading back towards a prolonged downturn. The biggest [..]

Technical Analysis – USDCAD breaks above cloud; eyes 11-year high at 1.3456

Posted on November 16, 2015 at 10:21 am GMT

The US dollar has made some significant advances versus the Canadian dollar following a 4-month low that was registered in mid-October (1.2828). Since then, a rebound in the greenback and more weakness in crude oil has added to pressure on the loonie, which is on track to challenge the 11-year high of 1.3456. The greenback is currently buying 1.3305 Canadian dollars. Looking at the technical picture, it appears quite favorable for further US dollar gains. Since November 6, the pair [..]

Asian Session – Markets grapple with Paris attacks, dismal Japanese GDP in see-saw session

Posted on November 16, 2015 at 8:44 am GMT

Foreign exchange markets see-sawed on Monday following Friday’s terrorist attacks in Paris and as Japan’s economy fell into technical recession with two consecutive quarters of contraction. The euro was holding on to 1.0750 after briefly dipping below 1.07 following the market’s open, while dollar / yen had been pushed down to 122.24 on risk aversion before rebounding to 122.74. Euro / pound was also off to 0.7025 before also climbing back to 0.7075. Regarding the Paris terrorist attacks the opinions [..]

European Session – Euro holds above 1.07, dollar shrugs off weak US retail sales, oil below $41

Posted on November 13, 2015 at 3:15 pm GMT

The euro was on course to end the week higher against the dollar after a rally to above 1.08 yesterday but gains were given back today after Eurozone GDP data which confirmed sluggish growth activity in the region during the third quarter. The overall flash estimate rose 0.3% in the three months through September, down from the 0.4% growth in the previous quarter. The consensus was for a 0.4% growth forecast. Germany also reported softer growth as its Q3 GDP [..]

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